Eli Lilly said on Monday it plans to buy Scorpion Therapeutics' experimental cancer therapy for up to $2.5 billion in cash to expand its pipeline of cancer treatments. The company will acquire Scorpion's experimental oral therapy,

Eli Lilly agreed to acquire Scorpion Therapeutics’ breast cancer treatment program for up to $2.5 billion in cash.

Eli Lilly is reenergizing its attempt to challenge Novartis and Roche for a breast cancer market, kicking off the J.P. Morgan Healthcare Conference with a deal to buy Scorpion Therapeutics’ PI3Kα pipeline for up to $2.5 billion.

The pharma will spend up to $2.5 billion to acquire an experimental PI3K inhibitor from Scorpion, which will spin out a new company holding its employees and other assets.

Eli Lilly said on Monday it would buy cancer therapy developer Scorpion Therapeutics for up to $2.5 billion in cash. Lilly will acquire Scorpion's experimental oral therapy, STX-478, which is currently being tested in early-stage trials for breast cancer and other advanced solid tumors.

Lilly will acquire Scorpion's experimental oral therapy, STX-478, which is currently being tested in early-stage trials for breast cancer and other advanced solid tumors

Eli Lilly (NYSE:LLY) is in advanced discussions to purchase cancer-focused biotech Scorpion Therapeutics for as much as $2.5 billion. Eli Lilly (NYSE:LLY) is expected to pay around $1 billion upfront for the privately owned Scorpion,

Eli Lilly said on Monday it would acquire cancer therapy developer Scorpion Therapeutics for $2.5 billion in cash.